Walgreens Boots Alliance (WBA) Misses Q3 EPS by 8c, Cuts FY Guidance

Walgreens Boots Alliance (NASDAQ: WBA) reported Q3 EPS of $1.00, $0.08 worse than the analyst estimate of $1.08. Revenue for the quarter came in at $35.4 billion versus the consensus estimate of $34.24 billion.

GUIDANCE:

Walgreens Boots Alliance sees FY2023 EPS of $4.00-$4.05, versus the consensus of $4.46.

• Revising full-year adjusted EPS guidance to $4.00 to $4.05 from $4.45 to $4.65, to reflect consumer and category conditions, lower COVID-19 contribution, and a more cautious macroeconomic forward view
• Taking immediate actions to drive sustainable growth in adjusted operating income in fiscal 2024
• Raising Transformational Cost Management Program target from $3.5 billion to $4.1 billion in total savings
• Optimizing the U.S. Healthcare path to profitability, including an increased and accelerated synergy target for VillageMD/Summit Health of $200 million by calendar 2026
• Preliminary fiscal 2024 expectation for low- to mid-single digit adjusted operating income growth, expected to be driven by U.S. Healthcare and U.S. Retail Pharmacy; adjusted operating income growth expected to outpace adjusted EPS

For earnings history and earnings-related data on Walgreens Boots Alliance (WBA) click here.

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